Lincoln Electric Holdings Inc (LECO) — Stock Correlations & Overview
Over the past year, LECO has moved most closely with RSPN, FXR, DRES. Explore the stocks most correlated and inversely correlated with LECO below, along with its price, financials, and company profile.
Stocks correlated with LECO
Correlation of daily returns. Higher positive values move with LECO; negative values move opposite it. Informational only, not investment advice.
Most correlated with LECO
| Symbol | Company | Correlation |
|---|---|---|
| RSPN | Invesco S&P 500 Equal Weight Industrials ETF | 0.74 |
| FXR | First Trust Industrials/Producer Durables AlphaDEX Fund | 0.73 |
| DRES | GMO Domestic Resilience ETF | 0.72 |
| PSCI | Invesco S&P SmallCap Industrials ETFINVESTMENT ADVICE | 0.72 |
| PAVE | Global X U.S. Infrastructure Development ETF | 0.72 |
Frequently asked questions about LECO correlations
- Which stocks are most correlated with LECO?
- Based on one year of daily returns, the stocks most correlated with Lincoln Electric Holdings Inc (LECO) are RSPN (0.74), FXR (0.73) and DRES (0.72). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with LECO?
- Over the past year, the stocks most inversely correlated with Lincoln Electric Holdings Inc (LECO) are SIJ (-0.69), SMDD (-0.68) and MZZ (-0.68). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these LECO correlations calculated?
- We compute the correlation of daily returns between LECO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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